You should add a “pumpkin-spice” product in your line now. Why? There are literally millions of reasons – and dollars behind it!
I doubt there is anyone out there who hasn’t heard about Starbucks’ Pumpkin Spice Latte drink (also known as PSL) which is featured in their Fall Menu.
This year the Fall Menu launched before Fall (they even added a “cold brew” version because the weather was still warm). You would think people would find that ridiculous? Quite the opposite! When Starbucks announced the return of the PSL via Instagram, it got thousands of retweets and comments like “Best time of the year” and “I’ve been waiting for this moment!”.
Is it just a crazy trend? Let the numbers speak the truth!
According to Placer.ai reports, Starbucks’ traffic rose nearly 26% in the week following its fall menu launch and Dunkin’s visits jumped 9.5%. Similar retail innovations that range from pumpkin spice-flavored Goldfish crackers and Oreos to Chapstick and deodorant — are increasing all the time. According to Fox News, U.S. consumers spend roughly $500 million on pumpkin spice products.
What is so sexy about Pumpkins? Psychology meets Marketing
According to psychologist Matt Johnson, there’s a scientific reason why pumpkin spice is such a beloved flavor. It is connected to neurological receptors associated with taste and memory and it triggers nostalgic feelings of back-to-school, the fall season, family gatherings, and “wholesome vibes.”
According to Kearny research, 66% of consumers experience positive overall feelings toward pumpkin spice, while 60% consider pumpkin spice to be “highly influential” toward their purchasing decisions.
And according to the basic rule of marketing, the time limit on availability plays a huge part, too. Together with the positive associations, it creates a killer combination!
Are you not convinced about pumpkin-spice popularity? What if we told you it has its own Twitter account with 88.3k followers?
So, what pumpkin-spice products are you going to create now?